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PERS reports preliminary 2024 earnings crediting of about $5.2 billion; subcommittee acknowledges receipt
Summary
The General Government Subcommittee of the Oregon Legislature acknowledged receipt of the Public Employees Retirement System (PERS) 2024 preliminary earnings crediting report at a Feb. 20 work session.
The General Government Subcommittee of the Oregon Legislature acknowledged receipt of the Public Employees Retirement System(PERS) 2024 preliminary earnings crediting report at a work session on Feb. 20.
PERS staff told the committee the PERS Board approved preliminary earnings on Jan. 31, 2025, and the agency presented a net credited amount of approximately $5.2 billion for 2024, net of investment and administrative expenses. Richard Horsford, chief financial officer at Oregon PERS, said Tier 1 accounts are credited at the assumed rate of 6.9%, while most other accounts were credited in a range near the low- to mid-5 percent range and that target-date and variable funds vary more widely because of differing investment mixes and timing.
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